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The government has announced an extension to the
Recovery Loan Scheme (RLS) from August 2022. Brought in to support UK businesses during the Covid-19 pandemic, the newest version of RLS is now open for applications.
The RLS is open to UK businesses of any size who can demonstrate that they have been adversely impacted by the pandemic.
Loans are available through a network of accredited lenders listed on the British Business Bank’s
website.
Although the maximum loan size remains at up to £2million, UK lenders may now require a personal guarantee from the borrower, in line with standard commercial practice.
For more information, visit
gov.uk.
If you have you have any questions about the above, please contact your
usual Moore advisor.